Black Owned Los Angeles

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From $200K in sales on a single livestream to $6 million in monthly sales?? The founder credits TikTok Shop, but there is more to this. How Canvas Beauty (a Black owned brand) has been able to effectively utilize the platform to explode in 6 months should be carefully studied. We have to know more! ??: https://lnkd.in/gv-Jwd87

We recently RSVP’d for the Los Angeles Urban League’s State of Black LA’s signature event coming up. This event is typically packed with data, benchmarks, and thought leadership around racial equity across economics, employment, education, health, housing, criminal justice, and civic participation. This event is FREE to attend and will be streamed live for those who can’t make it in person.

12 key takeaways from the 2024 Black Business Report: 1. Growing…Slowly: Seeing year-over-year growth but are still drastically underrepresented. 2. Small Employers: 97% have less than 20 employees, and three-in-four have fewer than five employees. 3. Eastward Bound: Far more likely to be found in an urban area east of the Mississippi. 4. Young: Likely to have been in existence under two years. 5. Slightly Concentrated: Spread across numerous industry sectors, but still concentrated. 6. Flying under $100k: Taking in less revenue than other businesses. 7. Smaller Debt Holders: Far more likely to have debt under $100,000 than over. 8. Labeled as Riskier: Three times more likely to be labeled a higher credit risk than their white counterparts. 9. Often Shut Out of Financing: Far more likely to experience pervasive barriers to accessing capital. 10. Hunting for Non-Traditional Capital: More receptive to alternative sources of financing like fintech and online lenders. 11. VC Starved: Receive less than 1% of all venture capital investment in the United States. 12. Infrequent Contract Recipients: Inadequately represented among government contract awardees. Dig into the report if you want to learn more!

It's official -- Black Owned Los Angeles has a new look! We're thrilled to be back with these exciting updates and highlights for #BlackBusinessMonth. Read the August newsletter HERE: https://lnkd.in/gVaHF9u2

A recent article in The Guardian references that… ??32% of Black small business owners reported facing issues with the increasing cost of commercial rent ??54% of California small business owners reported that they often face displacement ??Commercial rent increased by 3.5% for retail spaces in 2023 ??2020 saw a 41% decrease in active Black small business owners ??Los Angeles suffered the most permanent business closures in the US in 2020 Drop a comment if you have 1) experienced any of this as a small business owner and/or 2) have any advice for small business owners to combat/mitigate rising costs of commercial rent #BlackOwnedLosAngeles #BlackLosAngeles #SmallBusiness #SupportSmallBusiness?

While we don't know the ins and outs of this sad situation, we do know that when Black owned businesses close, our communities suffer. Please stop by Bloom & Plume before August 4th and pay your respects ?? ?? 1638 W Temple St